Articles tagged under: SBI

SBI reduces its MCLR and home loan rates w.e.f 10th April 2019

April 09, 2019

Mumbai: Country’s largest lender State Bank of India (SBI) has reduced its MCLR by 5 bps across all tenors with 1 Year MCLR coming down from 8.55% p.a. to 8.50% p.a. As a result, Interest rates on all loans linked to MCLR stand reduced by 5 bps with effect from 10th April 2019. Also SBI makes its housing loans more affordable by reducing the interest rate by 10 bps on loans up to Rs. 30 lacs. Now the applicable interest rate for such Housing loans below Rs.30 lacs will range from 8.60%...Read More

SBI to organize Kisan Mela in Gujarat on 18th July

July 16, 2018
SBI to organize Kisan Mela in Gujarat on 18th July

Gandhinagar: State Bank of India, the country’s largest lender will organize Kisan Mela at nearly 750 rural and semi-urban branches across Gujarat on 18th July, 2018. Kisan Mela is one of its kind initiative by SBI to develop connect with farmer customers, resolve their grievances and educate them about various their rights and banks initiatives. The Bank which has close to 1.50 cr. farmer customers, plans to connect with atleast 10 lakh farmers through this mega Kisan Mela. SBI had recentl...Read More

SBI Life Insurance launches ‘SBI Life –Poorna Suraksha’ plan in Gujarat

January 25, 2018
SBI Life Insurance launches ‘SBI Life –Poorna Suraksha’ plan in Gujarat

Ahmedabad: SBI Life Insurance, today announced the launch of SBI Life - Poorna Suraksha, a non-linked non-participating, term assurance plan, with an inbuilt Critical Illness cover. The policy offers coverage for a range of 36 critical illnesses, which auto re-balances with the evolving needs as the age progresses. Speaking at the launch of the product, Mr. Ravi Krishnamurthy, President – Zone 1, SBI Life, said, “In the initial years of a person’s life, the liabilities like home loans, ...Read More

SBI reduces Base Rate, BPLR by 30 bps

January 01, 2018
SBI reduces Base Rate, BPLR by 30 bps

Mumbai: State Bank of India (SBI) has reduced Base rate and Benchmark Prime Lending Rate (BPLR) by 30 basis points (bps) with effect from January 01, 2018. The revised base rate is reduced from 8.95% to 8.65% for existing customers and BPLR is reduced from 13.70% to 13.40%. Additionally, bank has decided to extend on-going waiver on home loan processing fees till March 31, 2018 for new customers keen on buying their dream house and other customers looking to switch their existing loans to SBI. ...Read More

Achche din for home, auto loan borrowers: SBI cuts interest rates on loans by 0.9%

January 01, 2017
Achche din for home, auto loan borrowers: SBI cuts interest rates on loans by 0.9%

File photo: Arundhati Bhattacharya who heads SBI Mumbai:  State Bank of India, the country's biggest lender by assets, today announced cut in its lending rates by 90 basis points for maturities ranging from overnight to three-year tenures, after experiencing a surge in deposits. With this SBI's so-called overnight marginal cost of funds-based lending rate (MCLR) fell to 7.75 per cent from 8.65 per cent, while three-year loan rates will now be 8.15 per cent from 9.05 per cent previously. Lend...Read More

Rs 2.5 lakh crore won’t come back into banking system: SBI

December 02, 2016
Rs 2.5 lakh crore won’t come back into banking system: SBI

Mumbai: State Bank of India has estimated that money worth Rs 2.5 lakh crore may not come back into the banking system post demonetisation of high-value notes. On November 8, the government banned banknotes of Rs 500 and Rs 1,000 worth over Rs 14 lakh crore from the economy. In a report, the Economic Research Department of State Bank of India (SBI) said "around Rs 2.5 lakh crore on a conservative basis will not be coming back into the system". As per the SBI analysis, the market estimat...Read More

Demonetization: Rs 1.20 lakh crore deposited in SBI in 15 days

November 24, 2016
Demonetization: Rs 1.20 lakh crore deposited in SBI in 15 days

Coimbatore: SBI Chairperson Arundhati Bhattacharya today claimed that nearly Rs.1.20 lakh crore has been deposited during the last 15 days after demonetisation of high denomination notes. Replying to a specific question on the impact of demonetisation on the bank's performance, Bhattacharya told reporters tonight at the city airport that about Rs 1.20 lakh crore has been deposited by the public during the 15 days. Asked about the performance during this quarter, in view of this sudden sur...Read More

SBI’s Rs 7,000 crore loan ‘write off’ not a loan waiver: Jaitley

November 16, 2016
SBI’s Rs 7,000 crore loan ‘write off’ not a loan waiver: Jaitley

New Delhi: As a controversy arose over SBI reportedly writing off loans worth Rs 7,000 crore including that of Vijaya Mallya promoted Kingfisher Airlines, government and the bank today maintained that there was no loan waiver and the liability on the borrowers still remains. Finance Minister Arun Jaitley asked opposition members in the Rajya Sabha not to go by the literal meaning of write-off. "So there is a little bit of malapropism involved in this. Don't go by literal meaning write...Read More

SBI collects Rs 1,14,139-crore in deposits in last 7 days

November 16, 2016
SBI collects Rs 1,14,139-crore in deposits in last 7 days

Mumbai: State Bank of India today said it collected Rs 1,14,139 crore in deposits in last seven days after the government announced demonetisation of Rs 500 and Rs 1,000 notes. The bank saw 240.90 lakh cash deposit transactions between November 10 and November 16 up to 7 PM, SBI said in a statement here today. The government announced to demonetise Rs 500 and Rs 1,000 notes on November 8. Banks were opened for transactions from November 10 but were closed on November 14 on account of Guru...Read More

SBI Rs 7,000 crore loan ‘write off’ not a loan waiver: Jaitley

November 16, 2016
SBI Rs 7,000 crore loan ‘write off’ not a loan waiver: Jaitley

New Delhi: As a controversy arose over SBI reportedly writing off loans worth Rs 7,000 crore including that of Vijaya Mallya promoted Kingfisher Airlines, government and the bank today maintained that there was no loan waiver and the liability on the borrowers still remains. Finance Minister Arun Jaitley asked opposition members in the Rajya Sabha not to go by the literal meaning of write-off. "So there is a little bit of malapropism involved in this. Don't go by literal meaning write-o...Read More